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The Moral Basis of Global Capitalism: Beyond the Eclectic Theory

In: The Multinational Enterprise Revisited

Author

Listed:
  • Peter J. Buckley

    (University of Leeds)

  • Mark Casson

    (University of Reading)

Abstract

John Dunning’s work has taken a distinctive turn in recent years. He has placed greater emphasis on policy, and addressed much wider issues than before (see, for example, Dunning, 1993). This is particularly evident in his latest book Global Capitalism at Bay? (2000). The title not only echoes Raymond Vernon’s Sovereignty at Bay (1971) but conveys Dunning’s concern that capitalism’s survival depends not only upon international trade and technology transfer but upon the efficiency of the institutions that support them. Institutional efficiency depends in turn on the legitimacy conferred by moral systems.

Suggested Citation

  • Peter J. Buckley & Mark Casson, 2010. "The Moral Basis of Global Capitalism: Beyond the Eclectic Theory," Palgrave Macmillan Books, in: The Multinational Enterprise Revisited, chapter 9, pages 205-238, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25046-8_9
    DOI: 10.1057/9780230250468_9
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    References listed on IDEAS

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    1. Thaler, Richard H & Shefrin, H M, 1981. "An Economic Theory of Self-Control," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 392-406, April.
    2. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    3. Casson, Mark, 1991. "The Economics of Business Culture: Game Theory, Transaction Costs, and Economic Performance," OUP Catalogue, Oxford University Press, number 9780198283751.
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